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    Property profile & analytics

    2551 Eau Gallie Blvd Ste, Unit 101 Melbourne, FL 32935-8961

    • Medical Office Space
    • 4,076 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0865953
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical Office Space

    Property Details for 2551 Eau Gallie Blvd Ste

    Year built
    2006
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    4,076 SF
    Zone code
    C1A
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    27-37-19-30-00000.0-0003.01
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $618,000
      Market price range: $390k - $864k
      AI Estimate
      $315,000
      Market price range: $236k - $396k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $650,000
      Current use
      RETAIL STORES
      $595,000
      Change: -9% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $560,000
      Change: -14% Conversion: Difficult
      WAREHOUSE, STORAGE
      $525,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6641
    Latitude
    28.1283
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,015
    $132,070
    $371,750
    $503,820
    -
    $132,070
    $371,750
    $503,820

    Comparable in this City

    • Value Estimation
      $1,125,000
      9,384 SF

      2755 Wickham Rd

      MEDICAL BUILDING • 9,384 SF
      2755 Wickham Rd, Melbourne, FL 32935-2226
      View Details
    • Value Estimation
      $520,000
      7,718 SF

      1425 Aurora Rd

      MEDICAL BUILDING • 7,718 SF
      1425 Aurora Rd, Melbourne, FL 32935-5315
      View Details
    • Value Estimation
      $695,000
      4,650 SF

      2960 Bush Dr

      MEDICAL BUILDING • 4,650 SF
      2960 Bush Dr, Melbourne, FL 32935-2156
      View Details
    • Value Estimation
      $630,000
      4,466 SF

      2711 Eau Gallie Blvd

      MEDICAL BUILDING • 4,466 SF
      2711 Eau Gallie Blvd, Melbourne, FL 32935-8922
      View Details
    • Value Estimation
      $675,000
      4,686 SF

      2900 Lk Washington Rd

      MEDICAL BUILDING • 4,686 SF
      2900 Lk Washington Rd, Melbourne, FL 32935-3482
      View Details
    • Value Estimation
      $680,000
      5,737 SF

      2230 Wickham Rd

      MEDICAL BUILDING • 5,737 SF
      2230 Wickham Rd, Melbourne, FL 32935-8016
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,740 SF

      Stand-Alone Office Building For Sale

      2,702 SF office building with tenant in place until 2025.
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    • $1,050,000
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      High-Visibility Medical Office Building

      Prime US-1 location, vacant medical office.
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      First-floor office condo in a well-maintained, secured building.
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      Prime FL Office Building, 7,260 sq ft
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      Versatile Office Building with Garage

      Office building with rental income potential and detached garage.
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    Similar Nearby for Lease

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      80,196 SF

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      Prime Office Space, Beachfront Access
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    • $15 SF/Yr
      3,780 SF

      Medical/Office Space for Lease

      Medical and office spaces available for lease with ample parking.
      2200-2290 W Eau Gallie Blvd, Melbourne, FL 32935
      View Details
    • Contact for pricing
      3,220 SF

      Medical Building with Great Visibility

      3,220 SF medical building with excellent location and signage.
      2261 Sarno Rd, Melbourne, FL 32935
      View Details
    • $15 SF/Yr

      Medical Office Space Available

      Medical office with multiple exam rooms in central Melbourne.
      2200-2290 W Eau Gallie Blvd, Melbourne, FL 32935
      View Details
    • $44 SF/Yr
      1,725 SF

      Midtown Melbourne Office Building

      Fully renovated, 1,725 sq ft office.
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      View Details
    • $4,995 /Mo

      High-Visibility Commercial Property on Aurora

      Prime commercial property in Melbourne with versatile B-2 zoning.
      1944 Aurora Rd, Melbourne, FL 32935
      View Details
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    Melbourne, FL 32935-8961
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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